Vice President - Kuala Lumpur - Bank Muamalat

Lead a full-time on-site role for the Vice President - Centralised Fraud in the Compliance Division at Bank Muamalat located in Kuala Lumpur.

The ideal candidate should have a minimum of 10 years of experience in fraud investigation, detection, and prevention. Responsibilities include:

• Oversight of fraud risks faced by Bank Muamalat Malaysia Berhad and subsidiary units.
• Ensuring compliance with legal and regulatory requirements, including Islamic Financial Services Act and other regulatory requirements.
• Development and implementation of comprehensive anti-fraud strategies to protect Bank Muamalat and its customers from fraud risks.
• Management of the Centralised Department operations.
• Leadership in developing and executing a centralized operational fraud strategy aligned with Bank Muamalat's overall compliance and risk management framework.
• Implementation of detection, prevention, and response programs for external fraud across all banking channels and products.

Operational Management

• Oversight of daily operations of the Centralised Fraud Department, including detection, prevention, response, investigation, and reporting of external fraud incidents.
• Timely and effective resolution of fraud cases while minimizing customer impact and operational losses.
• Coordination with business units, IT, and external stakeholders to manage and mitigate fraud risks.

Detection and Prevention

• Implementation of advanced fraud monitoring technologies and analytics to identify suspicious transactions and activities.
• Development and update of fraud detection rules, models, and parameters in response to evolving fraud trends.
• Ensuring effectiveness of fraud monitoring solutions or manual monitoring techniques at all times.
• Regular assessments of fraud risk exposure and update of the fraud risk management accordingly.
• Act as reference point within and outside Bank Muamalat on concerns related to operational external fraud management.
• Organisation of anti-fraud awareness programmes and ensuring these are understood and effectively communicated to all Bank Muamalat staff and customers.
• Accuracy of data of overall fraud operations matters.
• Leadership in conducting comprehensive investigations into suspected external fraud incidents and closure to customers performed within stipulated timeline.
• Proper documentation and evidence gathering.
• Collaboration with law enforcement agencies, regulatory bodies, and other financial institutions in fraud investigations and recovery efforts.
• Comprehensive reports on external fraud incidents, including root cause analysis and recommendations for preventing future occurrences.
• Post-incident reviews to assess the effectiveness of the fraud operations functions and identify opportunities for improvement in fraud response, prevention, and detection strategies.
• Implementation of lessons learned from fraud incidents to enhance the bank's fraud risk management framework and response protocols.

Qualifications

• Compliance Management and Regulatory Compliance skills
• Analytical Skills and Finance expertise
• Experience in Financial Services industry
• Strong problem-solving and decision-making abilities
• Excellent communication and interpersonal skills
• Bachelor's degree in Finance, Business, or related field